Coinbase’s layer-2 blockchain, Base, has welcomed the second iteration of its Onchain Summer, inviting builders and creators to bring more users onto the blockchain. This annual event, which started last year, aims to onboard more users to Web3 and has expanded to a full summer celebration of blockchain music, gaming, art, and more.
Running through to the end of August, Onchain Summer 2024 offers daily engaging activities and opportunities for participants to immerse themselves in the Onchain economy.
This article will cover the details of the Buildathon and rewards, the community’s engagement, the tools and features provided for participants, and the prospects and impact of Onchain Summer.
Buildathon and Rewards for Creatives
To mark the initiation of Onchain Summer, Base will host a month-long online hackathon beginning June 3, with 600 ETH ($2 million) offered to creatives through grants, prizes, and gas credits. This initiative aims to attract and reward innovative experiences and projects.
Round grants provide 2 ETH in weekly rewards through the base-builds channel on Farcaster, and gas credits enable gasless experiences via the Coinbase Developer Platform. Builders on Base are also eligible for Optimism Retro Funding, as Base is powered by the OP stack.
Furthermore, builders worldwide are invited to the Onchain Summer Buildathon, which features 200 ETH in prizes. Sponsored by Stripe, Shopify, Farcaster, Zora, Fleek, thirdweb, Nouns, and more, the event aims to shape the future of the internet across payments, commerce, social, and creative sectors.
The Buildathon, managed by Devfolio, features eight tracks focused on the fastest-growing onchain use cases. Each track offers a total of 20 ETH in rewards, with 2-10 winning teams per track.
Builders who integrate Smart Wallet can receive up to $15,000 in additional gas credits through the Base Gasless Campaign. Eligible recipients also have the opportunity to be featured on the official Onchain Summer page in July.
Onchain Summer is a decentralized movement for the entire ecosystem. Earlier in May, the community showed enthusiasm through creative remixes of the Onchain Summer billboard image.
Participants are encouraged to mint the commemorative Onchain Summer NFT to access original files and create unique designs. All proceeds from the mint will go directly to the original creators: Clément Cases, designer of the Britney font, and Bendito Mockup, creators of the Billboard mockup.
This year’s event emphasizes the role of builders, providing numerous opportunities for developers to showcase their projects and engage with a growing audience. Participants can share their projects through the Onchain Registry, reaching a wider audience within the Base and Coinbase communities.
The engagement does not stop at building projects; it extends to creating Onchain Summer merchandise. The merch store, powered by Slice, features items the community makes, allowing creators to sell their own merch or design new products.
Coinbase, Base, and their partners provide several tools to enhance the Onchain experience and make it easy for anyone to join.
Smart wallets offer a quick and secure way to create an Onchain account and engage across the ecosystem. These wallets simplify the Web3 experience by using passkeys instead of seed phrases, sponsoring gas fees, and avoiding third-party extensions.
Web3 enthusiasts and first-time wallet users can set up the new smart wallet in under a minute, without needing browser extensions, seed phrases, or passwords. This simplification is crucial for onboarding new users to Web3.
Moreover, Sponsored transactions remove gas fee friction, enabling users to participate instantly. USDC, a fiat-backed stablecoin, facilitates fast and affordable payments for Onchain Summer activities and merch.
Coinbase One offers members zero trading fees, boosted staking rewards, and priority support, enhancing their blockchain journey. Members can also verify their Coinbase One status onchain for access to additional benefits throughout Onchain Summer.
Future Prospects and Impact
The success of Onchain Summer could pave the way for future digital engagements on Base. By leveraging the potential of Web3 technologies, Base aims to build a more creative internet and connect with the community. This initiative showcases Base’s capabilities and commitment to driving innovation and economic freedom through blockchain technology.
The event’s support for builders and creators aims to onboard the next billion users to Web3, highlighting its transformative potential. With tools like smart wallets, sponsored transactions, and stablecoins like USDC, Base is making it easier than ever for users to participate.
Onchain Summer 2024 is more than just a celebration; it’s a call to action for developers, creators, and users to join the onchain revolution and help shape the future of the internet. Whether you’re minting NFTs, participating in hackathons, or simply exploring the onchain world, there’s something for everyone in this vibrant, growing ecosystem.
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